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Cape San Blas Real Estate Week in Review - March 4-10, 2017

Published on March 10, 2017 by Sherri Dodsworth under Cape San Blas

For Sale and SoldSpring has sprung and we have a market rally in full bloom.  What a week!  We closed a six sales, wrote up a whopping eleven new contracts, added seven new listings and changed prices on three others. With the new listings replacing the solds, our inventory remained essentially unchanged, adding just one, closing the week at 244, with 77 homes and 167 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor market MLS.  Grab a fresh cuppa Joe or your favorite adult beverage, depending on what time of day you’re reading, get comfortable, and let’s get rolling.

Cape San Blas Gulf View Lot Under Contract February 2017 with List Price of $179,000

We’ll launch into our review of this week’s six sales up on the north end of the Cape, stopping by Sunset Point where buyers had their offer accepted less than a month ago on this 62′ by 131′, 0.58 acre gulf view lot second tier lot listed for $179,000. The sellers bought the lot in 2003 for $310,000, and sold it for $168,000 on Friday.

Ovation Gulf View 2nd Tier Lot Uder Contract January 2017 with List Price of $160,000

Down on the gulf side of Ovation, the sellers signed over the title on this 50′ by 109′ foot, second tier “X” zone lot listed for $160,000. They bought it in the summer of 2013 for $89,000, (quite a bargain compared to the $455,000 the developers sold it for in late 2005), and closed on Wednesday for $150,000.

Cape San Blas Gulf Front Home UnderContract Feb. 2017 with List Price of $1,197,500 List Price

Right next door to Ovation is Cape Breezes, a subdivision platted in the late 70’s. It spans from the bay to gulf, has recorded covenants but no HOA or HOA fees, and all lots convey with gulf and bay deeded access. It’s the site of our third sale, a 3-bedroom, 3-1/2-bath, 1,825 square-foot, recently-built gulf front home with an in-ground pool listed for $1,197,500. The sellers purchased the 100′ wide lot in 2013 for $250,000. On Wednesday they turned over the keys to the new owners for $1,015,000.

Cape San Blas Corner Lot on Tobago Sold March 2017 with List Price of $139,000

Here’s a For Sale By Owner FSBO added for comp purposes. It’s a third of an acre, 102′ by 160′ lot on the corner of Tobago and Cape San Blas Rd. for which the owner was asking $135,000. The sellers bought it in late 2011 as a bank-owned sale for $40,000. On Thursday they signed over the title for $125,000.

Cape San Blas Bay View Lot Under Contract Feb. 2017 with List Price of $40,000

Seems as if we’ve been seeing this scene every week for several week now as one after another of the lots along this lane have gone under contract and sold. This week’s model is a 100′ by 150′, third-of-an-acre, “X” zone lot listed for $40,000, which is exactly what it closed for on Monday.

Indian Pass Gulf View Lot Under Contract February 201 with List Price of $72,000

Our sixth and final sale is on Painted Pony Road over in Indian Summer on Indian Pass where in mid-February the parties shook hands over a deal on this 92′ by 42′, 0.72-acre  “Canal Front” lot listed for $72,000. The sellers bought it back in the summer of 2000 for $40,300, and sold it on Tuesday for that full price of $72,000.

secluded-dunes-first-tier-home-under-contract-november-2016-with-list-price-of-719900

Now on to our eleven new contracts, starting way up on the north end of the Cape, beginning with this 3-bedroom, 3 1/2-bath, 2,400 square-foot, first-tier home on Secluded Dunes Drive listed for $719,900. It’s being sold furnished, has an elevator, and comes with deeded gulf access. According to county records, the sellers bought the lot alone in late 2004 for $515,000.  They built the home in 2010, and first listed it in September 2015 for $825,000.

Ovation Gulf Front Lot Under Contract March 2017 with List Price of $439,900

Ovation was hot this week with one sale and two new contracts, the first of which is this third of an acre gulf front lot listed for $439,900. This VE flood zone lot last sold during the developer’s sale back in the summer of 2012 when they let it go for the unheard of price of $165,000.

Ovation Bay Front Lot Under Contract March 2017 with List Price of $130,000

Over on the bay side of Ovation, buyers had their offer accepted on this 45′ by163′, 0.19-acre, AE flood zone bay front lot listed for a very attractive  $130,000.  This seller also bought this one during the developer’s clearing house sale when they let the current owners have it for $67,000.

Cape San Blas Gulf Front Lot Under Contract March 2017 With List Price of $565,000

Our next contract is on Summerhouse Lane in San Dunes subdivision where sellers accepted an offer on their irregularly shaped 50′-wide lot listed for $565,000. In the early summer of 2004, the sellers purchased it for $725,000

Cape San Blas Corner Lot Under Contract March 2017 with List Price of $55,000

Back down on the south side of the Cape on Pluto Way in Surfside Estates, buyers had their offer accepted on this 75′ by 103′, 0.19-acre-, “X” zone lot listed for $59,500.

Cape San Blas Lot in Boardwalk Under Contract March 2017 with List Price of $75,000

Our second contract in Boardwalk this week is on a freshly listed 79′ by 103′, 0.18 acre lot priced at $75,000 which the seller bought in 1992 for $52,000, or roughly $73,330 in today’s inflation-adjusted dollars.

Cape San Blas Bay Front Lot Under Contract March 2017 with List Price of $179,900

Next up is a 1.4-acre bay front  lot with 197′ on the waterfront listed for $179,900. The property fronts Cape San Blas Road across the street from Villa Del Sol.  The sellers bought it in the summer of 2004 for $450,000.

Treasure Bay Lot Under Contract March 2017 with List Price of $69,500

We’ll head off of the Cape over onto C-30 heading towards town stopping at this 100′ by 200′, half-acre lot in Treasure Bay listed for $69,500, which last sold in 2003 for $70,000. Treasure Bay has recorded covenants, but no HOA or HOA fees.

Indian Pass Home Under Contract March 2017 with List Price of $378,000

Contract number ten takes us out to Indian Pass Beach Subdivision where this recently listed 3-bedroom, 2-bath, 1,08 square-foot beach house went under contract Thursday with a list price of $378,000. Overall, for a circa early-90’s (late 80’s?) home she appears to be in pretty good shape, but some of the decks are in need of repair and there’s some mildew on some of the porch ceilings that need attention.  The sellers bought this one in early 2013 for $94,500.

Indian Pass Gulf Front Home Under Contract March 2017 with List Price of $315,000

We’ll wrap things up today with this 3-bedroom, 2 1/2-bath, 1,500 square-foot, gulf front half of a duplex on Indian Pass listed for $315,000. According to county records, the sellers bought it in 2003 for $400,000. The parcel of land on which it’s located has 25′ of gulf front.

That does it for this week. If you’ve had your eye on a particular property, now’s the time to stake a claim on it before someone else beats you to it, because we’re seeing that more and more these past few months.  Call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll get started.  Have a great week and thanks so much for taking time to stop by today.

 

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